THE HUMAN PROBLEM WITH CRYPTOCURRENCY

The invention of cryptocurrency is simply genius. The ability to operate with a digital asset and to conduct quick safe transactions online using your unique personal code is probably as secure as it can get. The blockchain technology also does its own part to ensure that all transactions are consented and cannot be hacked. I am a big fan of Cryptocurrency and I recommend it as a profitable investment for the future, however there are procedures in the use of cryptocurrencies which makes it a risk.

Hacking has been a general internet related problem, but it seems to be solved by the blockchain technology, yes, it’s going to be tough for hackers to simply gain access into any decentralized cryptocurrency account but here is a new angle to look from

Decoy ecommerce sites

Ecommerce is widely popular in today’s world. People love the idea of service at your finger tips so they simply go online, browse through ecommerce store and purchase whatever they like by putting in their personal details. Here’s the problem, online shoppers can be tricked to upload their cryptowallet passwords while trying to shop on a decoy website. This could be catastrophic if the website gains a lot of traffic with people purchasing with cryptocurrencies.

Theft of Cryptocurrency Wallet 

Users of cryptowallets often store the files on their computer, where it can easily be duplicated or stolen by a malware or even lost in the event that the hard disk crashes. A preventive measure would be to make copies of secret keys on USB hardware.

Risky ICOs

Often time’s businesses and corporations hold fundraisers using cryptocurrency, which are called Initial Coin Offering (ICO). They can be risky if the network of transfer is insecure. This depends on the cryptocurrency being used. This is the problem that Ethereum was created to solve. ICOs are becoming a widely recognized means of fundraising; all that is needed is an internet connection or Wi-Fi.

Tips for Cryptocurrency holders

  • Make sure to verify website address before giving out your details.
  • Go for cryptocurrency hardware wallets

South Korea To Regulate Domestic Bitcoin Functions

South Korea has been attempting to put regulations associated with the exchanges of cryptocurrencies in domestic markets which includes example such as Bithumb, CoinOne and Korbit since the end of November of 2017. In order to control the aggressive trend of wild cryptocurrency speculation in the country, the governing body of the nation is trying to put rules and regulations which would prevent minors from being associated with transactions of cryptocurrencies by imposing a ban and they are inspecting for ways to impose tax on the returns they would receive from their initial investments.

According to recent studies, it has been concluded that South Korea is one of the major markets for the exchange and trade of virtual currencies along with leaders such as Japan and U.S. Also, it is known as the largest manufacturer of ether and they account for 33% of the international market. In addition, the economy has been claimed to be a host for two of the leading virtual currency exchanges, Bithumb and CoinOne while also being rumoured to have approximately one million registered regular traders in cryptocurrencies. The ratio states that every one citizen among 50 citizens is likely to be associated with the trading of virtual currencies.

This has been a case of concern for the authorities of South Korea. The nation’s Financial Services Commissions put a ban on initial Coin Offerings in the month of September 2017. In the month of November 2017, the head of the Financial Supervisory Services of South Korea stated that they were monitoring the transactions of virtual currencies within the boundaries of the economy. Also, the national tax agency has brought the fact to light that they have looked for a scope to impose a value-added tax, tax on capital gains or put them simultaneously on the trading of cryptocurrencies. Implementation of such regulations will allow South Korea to be put on the list of the very few countries who have been successful in taxing exchanges of cryptocurrencies into cash.

The government of South Korea has decided to take such measures surrounding the trading of virtual currencies due to the threat of cyber attacks from their not so friendly neighbour, North Korea. According to the country’s National Police Agency, they have expressed their concern over bitcoin exchanges as North Korean hackers could be targeting the cryptocurrency exchanges in the economy of South Korea.

Should You Use Your Credit Card To Buy Bitcoin?

At the start of 2017, an individual Bitcoin was well worth $997. Now, it has exceeded the $4,000 tag. If you get back to the beginning of 2013, it was well worth $13.30.  One doesn’t need to be a genius to comprehend how significant its development has been. Even though investors do remain alert that change is soon due, they’re not pessimistic. However, Bitcoin is not immune from the variations of the nature of humans that take into account the falls when it comes to traditional currencies. Also, there’s no indication that its development is slowing.

Should you ever buy Bitcoin?

When you have money which you’re seeking to invest, there’s a decent chance where the answer could be yes. The glad tidings are that its growth in value is followed by a surge inthe number of methods for you to purchase it. It’s not as hard to purchaseBitcoin with a debit card. It is one of the simpler ways to buyBitcoin. As good bank cards help to earn rewards while managing your spending and personal debt, many holders of credit cardswish to use their credit cards for everything, in the end. Here are ways to start it.

Get yourself a Bitcoin wallet.

Utilizing a Bitcoin wallet is the ultimate way to protect your Bitcoins. You can use a Bitcoin wallet which will keep the Bitcoins safe this will also provide services to utilize your Bitcoins. Be sure you have acquired one just before you get Bitcoins, as you might not want your digital money to be in danger for any timeframe. An offline Bitcoin wallet is usually considered better, but there are a few excellent software possibilities.

Begin looking forany exchanges.

There are lots of companies involved with bitcoin exchanges online. The quantity is growing along with Bitcoin’s recognition. But what aspects should you consider to choose as to which is most beneficial for you?

Browse the fees.

Everyexchange in Bitcoins will require a commission for all credit card transactions. Typically, this is about 3.75% or even more. This is as opposed to debit cards purchases, which can be cost-free.

Bonuses.

Some websites will offer you bonuses on investment property. Coinbase, for example, provides you a supplementary $10 when you get additional $100 worthof-ofBitcoin. Obviously, this may not be your primary consideration, but it can give you a sense of benevolence towards the business.

Buying limits.

All the exchanges will have buying restrictions on the daily or month to month basis. If you plan on trading a large sum of money in Bitcoin, you may then need to pick something with greatpurchasing limitations. Some providers have regular monthly limits of only $600 per month, while others will help you to buy $5,000 worth of Bitcoin each day.

Withdrawal options.

Some individuals will have no wish of withdrawing their Bitcoins anytime soon. They would like to watch their cash increase, preferably investing increasingly more over the times and weeks. But drawback options will be a concern. In the event things don’t work out well, it’s essential to learn that you can quickly withdraw your cash when you feel like it. Certain providers make this more accessible when compared to others, with choices on which type of currency you’d like to get paid in and with faster transaction speeds.

Innovation For Bitcoin Smart Contract Is Coming Up Designed By A Designer For Lightning Network.

Usually, Bitcoin is not considered the most reliable or best for carrying out self-executing payments with conditions. These are popularly known by the term smart contracts. However, it is known to facilitate the most basic programmability which enables users to utilise features which include facilities, such as, time locks and multisig schemes. However, most of the competitive projects, such as Ethereum, Ethereum Classic or Qtum are expected by users to offer more support for carrying out advanced applications.

Although, these assumptions are being nullified by the questions which have appeared into the scene as an outcome of the new research which has been taking place in this market for a long time. For instance, a new project is being led by a mathematician from Blockstream, Andrew Poelstra, puts the magic of cryptography to use which allows them to move smart contracts off the grid from the chain which also provides leverage over Bitcoin’s security without using any sort of additional support for smart contracts associated with the Bitcoin protocol. It is currently known by the name, ‘Scriptless Scripts’.

Using the similar concept and ideology from the project, ‘Scriptless Script’, as mentioned above, there is another similar facility who are initiating their plans to deploy similar facilities for the smart contracts which belong to Bitcoin. This facility is popularly known by the name Discreet Log Contracts, which is shortly known as DLC. This project has come into existence due to the effort and creativity implemented by one of the writers who was involved in the writing of the original white paper for the Lightning Network, known as Tadge Dryja. This individual was presented at the latest Scaling Bitcoin Stanford. DLCs were able to interpret insurance companies which were supported by blockchains, contracts for future and dollars that were pegged with coins and far more topics.

These smart contracts generally, turn out into a phenomenon, popularly known as ‘bets’. For instance, if an individual wants to secure himself against the odds of not being able to travel as there is a probability of a pilot strike which might happen. If the person places a ‘bet’ that there will be a pilot strike and in a turn of event, it happens, the person will win the ‘bet’ and receive payments similar to an insurance payout. On the other hand, if the opposite happens, the ‘bet’ will be lost by that particular individual. As a result, they will lose out on the bet and have to pay similar to the case of an insurance down payment.

How to Buy Gold Bullion with Bitcoin

Purchasing gold bullion with Bitcoin is much simpler than you could imagine. I was able to develop a precise method to make use of my Bitcoin to get gold bullion every month on automation. The very best part is that the Bitcoin which I utilized to get the gold, didn’t even cost me anything. Thegold I purchased was technically free.

I am not building assumptions or trying to convince one to work and spend almost all their earnings on empty promises. The technique I use to build up gold bullion is an undeniable fact, and I make use of this method every single day, which I will be posting with you on this article.

Here are the steps on how to successfully accumulate Gold bullion with Bitcoin:

Start mining Bitcoin.

If you are unfamiliar with Bitcoin, start researching this digital currency that isbeing utilizedthroughout the globe. It is changing our approach to life very quickly and can continue steadily to do so. I’ve researched the Bitcoin marketplace and discovered a method to mine Bitcoinwhile online and receive a commission each day, without the need of being concerned about any maintenance of hardware, electric power costs or razor-sharp declines in its profitability. There are a significant number of disadvantages to possess Bitcoin hardware, because of the high costs in energy which is often used by the mining rig.

First you will need to set up an agreement with a company that does Bitcoin mining which can be trusted. There are lots of scams out there whichyou should be wary of

Link your web wallet with a visa card.

After you have found an established company, begin mining Bitcoin and start sending it to your digital wallet as often as possible within a brief period. Search for a Bitcoin wallet business that offers their customers a visa card which can be directly linked with the wallet.

Save up someBitcoin and purchase gold bullion.

Later, this card may then be used to create purchases online while withdrawing cash from a bank or making secure payments like ordering groceries. All of these transactions are fromthe Bitcoinwhich you will be spending and none of it is via your realbankaccount. When you have the visa card, you’d be able to buy gold bullion online.

The next thing is to look for a company that trades gold bullion online, and you’d be able to buy it while making use of your credit card. Utilize the visa cards and purchase some gold bullion. First, check the system and make sure that the gold you get is 24 karat gold. I would suggest you get your gold bullion in pieces of 5 grams because they are less challenging to use when needed.

Begin networking and refer other potential investors to your method.

There are numerous methods to make an excellent income, and one of these is using the energy of networking. After you have been able to hold your little bit of gold bullion in your hands by purchasing it with your Bitcoin, people would then want to understand how you achieved it. Show them your technique, and they’ll follow.

Earn affiliate commissions.

In case you have selected businesses within the Bitcoin and gold bullion marketplace that offers their customers an affiliate commission, you’d be earning an excellent passive income from your networking efforts. These are just some of my methods I take advantage of to build an internet business that I understand would last for a long time to come.